Liberty Specialty Markets has hired Michael Harth as country manager for Germany, starting in January 2022.
Convex has created a Luxembourg-based European insurance entity to serve clients within the European Economic Area.
Escalating insured losses of €10bn+ from the European floods will meaningfully impact some reinsurers and retro writers and drive 1 January cat renewal discussions on the continent as underwriters push hard for higher rates and buyers argue that moderation is warranted due to historically low loss ratios.
Insurance executives told an influential group of MPs on Monday that the UK should make urgent reforms to the EU’s Solvency II capital rules in order to free up cash for green investments.
Expansive Swiss carrier Helvetia has reported a net combined ratio in its non-life business unit of 94.5 percent for the first half of 2021, a 1.4 percentage point improvement on the prior-year period.
Markel has opened a new branch office in Paris to support SMEs in the French market.
SiriusPoint has more than doubled its expected losses from July’s European flooding amid rising expectations of a €10bn ($11.8bn) industry loss from the event.
Berkshire Hathaway Specialty Insurance (BHSI) has named Camille Luciani head of customer and broker engagement in France.
Market concerns over the quantum of losses from July’s European floods are continuing to grow, with fears the event may now cost in excess of €10bn ($11.8bn), according to Ascot CEO Andrew Brooks.
German regulators have launched an investigation into insurer Allianz in relation to the management of Allianz’s Structured Alpha funds during the market downturn last year, according to reports.
German carriers are on course for their most expensive year for natural catastrophes for more than 50 years, the country’s insurance association has warned.
Scor has appointed Romain Launay deputy CEO of its Global P&C business and CEO of its specialty platform in what is just one of a series of moves the French reinsurer’s newly installed CEO Laurent Rousseau has made as part of a management reshuffle.
European (re)insurers continue to outpace their counterparts in the US and Japan in making commitments towards restricting underwriting for fossil fuels.
European stocks dipped in morning trading on Tuesday as investors continued to react to the landfall of Hurricane Ida in Louisiana over the weekend.
Miller has appointed Laurent Hepner to its credit and political risk insurance team, based in the company’s new Geneva office.
German carriers now expect to incur losses of around €7bn ($8.3bn) from the flooding which impacted the country during July.
Berkshire Hathaway Specialty Insurance has added QBE’s Constanza Gállegos to its leadership team in Europe as country manager for Spain.
Insurance industry M&A dropped in the first half of 2021, according to Clyde & Co, with the number of completed deals down 3 percent in the first half of the year.
Coverys European Holdings has completed the 51 percent acquisition of Joseph G Brady (Brady Insurance), an insurance underwriting agency, broker and Lloyd’s coverholder based in Ireland.
Howden has hired Willis Towers Watson’s Jeroen Everling as CEO of its Netherlands corporate business, as it continues to expand its European operations.